CapitaLand Integrated Commercial Trust (CICT) has successfully sold its 21 Collyer Quay office building in Raffles Place for $688 million. According to a filing with the Singapore Exchange on Nov 12, the 999-year leasehold property was acquired by an unrelated third party. This translates to a price of $3,230 per square foot, based on the building’s net lettable area of approximately 213,000 sq ft. The sale price was determined through a willing-buyer-willing-seller approach, in adherence with an independent valuation conducted by Savills. Based on the sale price and the building’s annualised net property income for the quarter ended Sept 30, …
Shophouse Transactions Lower 3Q2024 Uncaveated Deals Show Demand Huttons Asia
As of Nov 11, there were 62 shophouses on the market, down 1.6% from 63 shophouses a quarter ago, and 36.7% lower than the 98 shophouses a year ago, according to Huttons’ report. Asking prices for the shophouses range from $3 million to $49.6 million, with an average asking price of $8.3 million.The number of shophouses for sale is expected to increase in the near term as some owners may be tempted to sell amid the current market environment, Lee says. “Many shophouse owners are keen to offload their assets at prices slightly below the peak before the pandemic set …
Private Residential Resale Prices Hold Steady 3Q2024
According to a new report by OrangeTee Research & Analytics, private resale home prices in 3Q2024 remained stable despite the high-interest rate environment. Data from Urban Redevelopment Authority (URA) showed that the average resale prices for landed and non-landed private residential homes, excluding executive condos (ECs), stayed the same at $1,713 psf from 2Q2024 to 3Q2024. However, there were fluctuations in average resale prices within different regions.
In the Core Central Region (CCR), average resale prices increased by 1.6% from $2,145 psf in 2Q2024 to $2,181 psf in 3Q2024. This partially reversed the 3.6% drop seen in the previous quarter. …
Kingsford Achieves 76 Sales Chuan Park 2024S Best Performing Weekend Launch
Chinese developer Kingsford Group achieved a remarkable 76% sales rate, selling 696 out of 916 units at Chuan Park on Sunday, Nov 10. The average price of units sold was around $2,579 psf, according to a spokesperson from Kingsford.Four different unit types were available for purchase, ranging from two-bedroom, two-bedroom+study, three-to-five-bedroom units, says the spokesperson for Kingsford. Singaporean buyers made up the majority of homebuyers, comprising of 93% of the total number of buyers, while permanent residents and foreigners accounted for the remaining 7%. The most popular unit types sold were two- and three-bedroom units, making up about 92% of …